Crescendo Investments II, LLC

September 01, 2005 10:27 ET

Crescendo Disagrees With ISS' Opinion On The Election Of Directors At Geac Computer Corporation Limited's Annual Meeting

NEW YORK, NEW YORK--(CCNMatthews - Sept. 1, 2005) - Crescendo Investments II, LLC ("Crescendo Investments"), on behalf of Crescendo Partners II, L.P., Series F ("Crescendo Partners"), announced today that it believes ISS Canada Corp. ("ISS") reached the wrong conclusion in respect of its recommendation for the election of directors at Geac Computer Corporation Limited's ("Geac") Annual Meeting of Shareholders.

Crescendo Partners believes, however, that the ISS opinion will have a limited impact on the September 13, 2005, shareholder vote because most institutional investors in high-profile proxy contests will make their own decisions, and few individual investors subscribe to ISS research.

Commenting on the ISS recommendation, Eric Rosenfeld, President, CEO and Managing Member of Crescendo Partners, said, "We strongly disagree with ISS's recommendation. Our concern that Geac may be poised to make an untimely and expensive acquisition should be of import to all Geac shareholders. An independent voice on the board representing all shareholders, committed to exploring alternatives to a large acquisition, is the best protection against an ill-advised transaction. We continue to urge shareholders to vote in favor of the Crescendo nominees to maximize the value of their investment."

The Geac Annual Meeting of shareholders is scheduled to be held on September 13, 2005. Crescendo Partners urges shareholders to vote the GOLD proxy, voting FOR the Crescendo nominees. Shareholders are asked to follow the voting instructions on the GOLD proxy card to ensure that their shares are represented at the Meeting. Votes on Crescendo Partners' GOLD proxy must be received no later than 5:00 p.m. on Thursday, September 8, 2005. Shareholders with any questions regarding the proxy materials should contact Crescendo Partners' proxy solicitor, Innisfree M&A Incorporated, toll free at 1-877-825-8772 (English Speakers) or 1-877-825-8777 (French Speakers).

Contact Information

  • Crescendo Partners: Eric Rosenfeld
    President, Chief Executive Officer and
    Managing Member of Crescendo Investments
    (212) 319-7676
    or
    Innisfree M&A Incorporated: Alan Miller
    Co-Chairman, Managing Director
    (212) 750-5831